| 来源类型 | Working papers |
| 规范类型 | 论文 |
| DOI | 10.3929/ethz-a-010210631 |
| Existence of equilibria in exhaustible resource markets with economies of scale and inventories | |
| Bommier, Antoine; Bretschger, Lucas; Le Grand, Franç; ois | |
| 发表日期 | 2014-08 |
| 出版者 | ETH Zurich, Center of Economic Research (CER-ETH) |
| 出版年 | 2014 |
| 语种 | 英语 |
| 摘要 | The paper proves the existence of equilibrium in nonrenewable resource markets when extraction costs are non-convex and resource storage is possible. Inventories flatten the consumption path and eliminate price jumps at the end of the extraction period. Market equilibrium becomes then possible, contradicting previous claims from Eswaran, Lewis and Heaps (1983). We distinguish between two types of solutions, one with immediate and one with delayed build-up of inventories. For both cases we do not only characterize potential optimal paths but also show that equilibria actually exist under fairly general conditions. It is found that optimum resource extraction involves increasing quantities over a period of time. What is generally interpreted as an indicator of increasing resource abundance is thus perfectly compatible with constant resource stocks. |
| 主题 | Exhaustible resources ; Nonconvex extraction cost ; Equilibrium existence ; Resource storage |
| URL | https://www.research-collection.ethz.ch/handle/20.500.11850/95375 |
| 来源智库 | Centre for Energy Policy and Economics (Switzerland) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/266739 |
| 推荐引用方式 GB/T 7714 | Bommier, Antoine,Bretschger, Lucas,Le Grand, Franç,et al. Existence of equilibria in exhaustible resource markets with economies of scale and inventories. 2014. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| eth-9058-01.pdf（1555KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
| eth-9058-01.jpg（3KB） | 智库出版物 | 限制开放 | CC BY-NC-SA |  浏览 | ||
| 文件名： | eth-9058-01.jpg |
| 格式： | JPEG |
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